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Sep 30
ProFrac Q3 2025 Earnings Report
ProFrac Holding Corp. reported a decrease in total revenue and net loss for the third quarter of 2025, reflecting challenging market conditions.
Key Takeaways
ProFrac Holding Corp. announced its third quarter 2025 results, with total revenue decreasing to $403.1 million from $501.9 million in the previous quarter. The company reported a net loss of $92.4 million, an improvement from a $107.2 million net loss in the second quarter of 2025. Adjusted EBITDA was $40.9 million, representing 10% of revenue, down from $78.6 million or 16% of revenue in the prior quarter.
Total revenue for Q3 2025 was $403.1 million, a decrease from $501.9 million in Q2 2025.
Net loss improved to $92.4 million in Q3 2025 from $107.2 million in Q2 2025.
Adjusted EBITDA was $40.9 million, representing 10% of revenue, compared to $78.6 million or 16% of revenue in Q2 2025.
Free cash flow was negative $(29.2) million, a decline from $54.4 million in Q2 2025.
ProFrac
ProFrac
ProFrac Revenue by Segment
Revenue by Segment
Stimulation services Revenue
CapyFin.comProppant production Revenue
CapyFin.comManufacturing Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
ProFrac Holding Corp. anticipates improved activity levels in the fourth quarter for Stimulation Services, despite expected lower pricing, and expects enhanced profitability in Proppant Production due to operational efficiency and increased throughput.
Positive Outlook
- Fourth quarter activity levels in Stimulation Services are expected to improve sequentially from third quarter levels.
- Proppant Production segment profitability is expected to improve compared to the third quarter.
- Anticipated enhanced operational efficiency and increased throughput and volumes in Proppant Production.
- The U.S. onshore completions market is believed to be well-positioned for recovery when commodity prices strengthen.
- The pressure pumping market is expected to continue to tighten via natural equipment attrition.
Challenges Ahead
- Pricing in the Stimulation Services segment is expected to be lower on average versus the third quarter.
- Pricing pressures persist in the Proppant Production segment.
- The company's third quarter results reflected continued challenging market conditions.
- An unexpected decline in conditions toward quarter-end was observed in the third quarter.
- Capital expenditures are expected to be $160 million to $190 million for 2025, a reduction from previous guidance, indicating a cautious outlook.